XRP Experiences Significant Decline Amid Cooling Market Participation

XRP has experienced a notable decline, falling 26% this year to approximately $1.34, and has decreased by 54% over the past six months. According to NS3.AI, on-chain data reveals that around 36.8 billion XRP, representing roughly 60% of the circulating supply, are currently held at a loss, with unrealized losses amounting to approximately $50.8 billion. Additionally, ETF flows, derivatives positioning, and exchange activity indicate a reduction in market participation and liquidity, which could lead to more abrupt future price movements.